Petroleum and Electricity Prices to be raised

Petroleum and Electricity Prices to be raised

ISLAMABAD: Petroleum Prices are set to be raised by government from December 1.

The prices of all the major petroleum products are set to go up by up to 9.4 per cent across the country while electricity rates would increase by 48 paisas per unit for consumers in Karachi.

Petroleum production witnesses increase in Pakistan

At a public hearing on Tuesday, the National Electric Power Regulatory Authority (Nepra) determined a 48-paisa per unit increase in the electricity rates under monthly fuel adjustment for consumption in October.

Presided over by its chairman Tariq Sadozai, Nepra noted that K-Electric had sold about 1.5 billion units to its consumers against a lower reference tariff while the power utility incurred about Rs720 million additional expenditure on account of fuel cost in October. Therefore, this additional cost required to be passed on to the consumer in the next billing month.

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